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The U.S., energy producing superpower

General discussions of the systemic, societal and civilisational effects of depletion.

Re: The U.S., energy producing superpower

Unread postby AdamB » Tue 20 Mar 2018, 14:59:46

Interesting article, that ignores several points, and appears to obfuscate on others.

The EIA claimed to be overly optimistic isn't also mentioned as the one that was overly PESSIMISTIC previously, so based on past conservative principles, it would seem that understanding their past behavior is important, if only to explain why you conveniently avoid the point. Also, while sweet spot development is certainly of a priority to all operators in the Bakken and Eagle Ford, that isn't where the current growth is coming from, and development in the Midland and Delaware basins within the Wolf camp looks to be as substantial and prolific as either the Bakken or Eagle Ford. Or both.

Lest we forget, another CEO just this past November blasted the EIA in the press over their high estimates. Harold Hamm being that person. And those estimates of the EIA? Turned out to be low. Again, they keep getting it wrong on the LOW side.
Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0
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Re: The U.S., energy producing superpower

Unread postby coffeeguyzz » Tue 20 Mar 2018, 17:00:34

And, again, as prodigious as the oil output is, the gas production will simply blow people away.

Associated gas barely registers for most operators seeking oil.
Texas and Oklahoma production is rich in both NGLs and methane.

2018 will see Appalachian Basin numbers to write home about.
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Re: The U.S., energy producing superpower

Unread postby ROCKMAN » Tue 20 Mar 2018, 17:29:59

Define “energy producing superpower”:

1) A country that produces just enough energy to satisfy its needs
2) A country that produces enough energy to satisfy its needs and exports the surplus
3) A country that produces more then most countries but still needs to import energy to meet its needs.
4) A country that produces more than most countries but still needs to import energy to meet its needs. A country that also spent $trillions of taxes and thousands of the lives of its military unsuccessfully trying to stabilize oil exporting regions.
5) A country that produces more than most countries but still needs to import energy to meet its needs. A country that also spent $trillions of taxes and thousands of the lives of its military unsuccessfully trying to stabilize oil exporting regions. A country with politicians and “experts” trying to convince the public it will soon shift to Category 1 and perhaps even if Category 2.
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Re: The U.S., energy producing superpower

Unread postby dissident » Wed 21 Mar 2018, 07:19:56

A brainless propaganda slogan to make all the sheeple feel warm and fuzzy about how things are going.
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Re: The U.S., energy producing superpower

Unread postby kublikhan » Thu 05 Apr 2018, 19:16:49

In December, U.S. net petroleum and petroleum product imports fell to the lowest level on record. On the current trajectory, they could fall to zero in 2020.

The overall balance between U.S. imports and exports of both crude oil and finished products fell to 2.6 million BPD in December. That is the lowest level since the EIA began tracking this category in 1973:
U.S. Net Imports of Crude Oil and Petroleum Products

Last fall the International Energy Agency declared in its World Energy Outlook 2017 that the U.S. could be a net exporter of oil within a decade. On the current trajectory, net imports could indeed turn into net exports in 2020.
U.S. Net Petroleum Imports Plunging Toward Zero
The oil barrel is half-full.
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Re: The U.S., energy producing superpower

Unread postby kublikhan » Sun 06 Jan 2019, 18:09:05

US net imports of crude oil and petroleum products fell to 1.4 million bpd. 10 years ago this time of year it was 11.5 million bpd of imports.

US net imports of crude oil and petroleum products
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Re: The U.S., energy producing superpower

Unread postby pstarr » Sun 06 Jan 2019, 18:23:03

What a crock of manure. The Unites States consumes 20 million barrels of oil per day. The United States produces 10 million barrels of oil per day.

20 minus 10 does not equal 1.4. Sorry for your loss kub
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Re: The U.S., energy producing superpower

Unread postby kublikhan » Sun 06 Jan 2019, 21:08:30

pstarr wrote:What a crock of manure. The Unites States consumes 20 million barrels of oil per day. The United States produces 10 million barrels of oil per day.

20 minus 10 does not equal 1.4. Sorry for your loss kub
Your data is incorrect on a few points pstarr:
1. US oil production is not 10 million bpd. It is 11.7 million bpd.
2. The US is a net exporter of refined petroleum products(gasoline, diesel, etc). This gets subtracted from that 20 million bpd.
3. There are other factors that affect the data such as NGLs, refinery processing gain, etc.

If you want to see all the nitty gritty details you can find this in the weekly data:
Net Imports of Crude and Petroleum Products: 1,392,000 bpd
U.S. Petroleum Balance Sheet, Week Ending 12/28/2018
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Re: The U.S., energy producing superpower

Unread postby pstarr » Sun 06 Jan 2019, 22:03:39

Sure kub, minus all the finished product we import from Trinidad Venezuala Mexico Canada and who knows where else?
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Re: The U.S., energy producing superpower

Unread postby ralfy » Sun 06 Jan 2019, 23:46:29

20 Mbd for less than 5 pct of the world's population.
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Re: The U.S., energy producing superpower

Unread postby AdamB » Mon 07 Jan 2019, 00:15:58

ralfy wrote:20 Mbd for less than 5 pct of the world's population.


Incorrect. You need to examine the net import picture, that is additive to US domestic production, not total imports.
Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0
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Re: The U.S., energy producing superpower

Unread postby kublikhan » Mon 07 Jan 2019, 01:15:34

pstarr wrote:Sure kub, minus all the finished product we import from Trinidad Venezuala Mexico Canada and who knows where else?
Imports of refined products are included in the net figure.
The oil barrel is half-full.
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Re: The U.S., energy producing superpower

Unread postby ROCKMAN » Mon 07 Jan 2019, 17:00:00

k - Mucho thanks for all the facts. The continuing irritation is the misuse of the term "consumption". It so easily confuses folks who don't understand that much of US oil "consumption" is the oil "consumed" by our refineries with the resultant products exported to the actual foreign FINAL CONSUMERS of that rather large volume of US oil "consumption". And even though that FACT has been repeatedly explained by you and the Rockman et al some here still INTENTIONALLY use that poor terminology in their arguments.

As the famous Texas comedian Ron White has said: "You can't fix stupid."
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Re: The U.S., energy producing superpower

Unread postby ralfy » Mon 07 Jan 2019, 20:29:55

ROCKMAN wrote:k - Mucho thanks for all the facts. The continuing irritation is the misuse of the term "consumption". It so easily confuses folks who don't understand that much of US oil "consumption" is the oil "consumed" by our refineries with the resultant products exported to the actual foreign FINAL CONSUMERS of that rather large volume of US oil "consumption". And even though that FACT has been repeatedly explained by you and the Rockman et al some here still INTENTIONALLY use that poor terminology in their arguments.

As the famous Texas comedian Ron White has said: "You can't fix stupid."


And foreign consumers that make up a growing, global middle class, for which I recall one article point out that we will need around four more Saudi Arabias to stay afloat. Clearly, one "energy[-]producing superpower" won't be enough.
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